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ASEAN Overview

ASEAN OverviewThe Association of South East Asian Nations (ASEAN), founded in 1967, is an increasingly important economic block of 10 member nations with an aggregate economic size of USD 2.3 trillion and a young, growing population of more than 600 million people. In line with China and India, ASEAN boasts an average GDP growth over the past 15 years at around 6% p.a. ASEAN’s prospects will be much enhanced by an ambitious integration effort which seeks to achieve a single market and production base similar to the European Union. This integration includes higher mobility of labour and capital within the region, and at the same time promotes closer linkages with other key economies such as China, Japan, South Korea, India, Australia and New Zealand. In 2013, total FDI to the 5 leading ASEAN nations (Singapore, Thailand, Malaysia, Philippines, Indonesia) was higher than in China, a trend which is continuing in 2014.

The ASEAN Economic Community’s (AEC) envisaged launch on December 31st 2015 will be a fundamental integration milestone in the further development of South East Asia. ASEAN’s diversity – ranging from advanced economies like Singapore and Malaysia to developing countries like Myanmar and Cambodia – will be a source of synergies, bringing the capital and know-how of the more mature economies together with the competitive costs and abundant labour and resources of its less-developed member states. ASEAN Business Partners is convinced that the AEC will bring many business opportunities to both the ASEAN member states and the foreign businesses entering ASEAN with the appropriate business concept. On this website we have gathered for you some initial information on ASEAN and its member states, and we are happy to assist you in navigating your business in this exciting region.

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